FOOTHILL RANCH, Calif. (AP) -- Kaiser Aluminum Corp., which makes fabricated aluminum products, said on Monday that its third-quarter profit fell 20 percent on seasonal weakness and one-time items.
Net income for the three months ended Sept. 30 was $4.4 million, or 23 cents per share, down from $5.5 million, or 29 cents per share, a year ago. Revenue rose 22.4 percent to $322.3 million, from $263.4 million a year ago.
The company said it would have earned $12 million, or 63 cents per share, if not for one-time items. Analysts surveyed by FactSet were expecting a profit of 62 cents per share on revenue of $328.5 million.
A year ago it had an adjusted profit of $8 million, or 44 cents per share.
The company's cost of products sold rose to $297.7 million from $229.3 million a year earlier.
It also said aerospace demand offset the impact of normal seasonal weakness. It plans to finish expanding an extrusion facility for aerospace parts by the end of the year.
Kaiser shares had risen $1.01, or 2.2 percent, to close at $46.06 before the results were released.
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